Chaffee Crossing Continues Growth in Fort Smith

Ivy Owen doesn’t expect any future mega announcements for Chaffee Crossing like those of the past couple of years. Owen, the executive director of the Fort Chaffee Redevelopment Authority in Fort Smith, oversaw $3 million in property sales in 2015 as the 7,000-acre Chaffee Crossing community continues to see its available property get packaged and sold. Owen estimates that about 1,500 acres remain in the development, and almost all of that is composed of lots ranging from 5 to 20 acres. “Big things can come in small packages,” Owen said. Then again, Owen suddenly points out a large property colored red on a map on the wall. It’s 200 acres and was originally going to be part of a land swap with the Arkansas Army National Guard in a deal that never materialized. Why, that could be Chaffee’s next blockbuster. “No, I’m not teasing you,” Owen said. “What I’m hoping will happen is some entity, commercial-type or mall-type development, that can use 200 acres in that strategic location will be making an announcement this year. That’s a gut feeling. It’s hopeful. I’ve talked to some people who may have an interest in it. There’s nothing on the table.” Owen thinks it will take seven to 10 years for Chaffee Crossing’s remaining property to be sold. Once that happens, supervision and control of the land, which lies within the city limits of Fort Smith and Barling, will revert to those cities a...
Source: Arkansas Business - Health Care - Category: American Health Source Type: news